Regions

VeloCity Venture Fund awards US$100,000 across four venture firms

(Credit: Reuters) VeloCity Venture Fund is an exclusive venture capital fund setup by the University of Waterloo.VeloCity Venture Fund Logo
July 26
12:28 AM 2013
by IVCPOST Staff Reporter

University of Waterloo announced that its VeloCity Venture Fund had awarded US$100,000 in funding across four winners in their annual venture contest. Among the winners were teams that made a music-making application and a wearable health monitor.

Each of the winners: Kite, Blacktree Health, Planleaf and SoundBrush got US$25,000 for their efforts. Kite developed a web application development platform that is cloud-hosted. Planleaf created a project management tool that is email-based. Blacktree Health created wearable health monitor innovation. SoundBrush developed the music-making application.

"We're developers, and we love solving the problems that developers face. But there's a lot more to running a business than that, and VeloCity has a great ecosystem to build great companies. This has been an amazing experience. Today's prize means we can get Kite to our users and become a dominant player in this market so much faster," Kite co-founder, Jeffrey Morgan, said.

The VeloCity Venture Fund awards cash incentives worth up to US$300,000 to University of Waterloo students each year. They also give the winners a chance to establish their startup firms at the VeloCity Garage.

"VeloCity runs an impressive program. When I graduated from Waterloo in 2006, going right into a startup after graduation was not a career option. VeloCity is giving a competitive and hungry group of entrepreneurs the opportunity to do just that and be very successful," said an iNovia Capital venture capitalist, Karamdeep Nijjar.

 

Great cell phone accessories on sale! very attractive
© 2014 VCPOST, All rights reserved. Do not reproduce without permission.
Featured Video : Press Conference by US Secretary of State
Tags
Share

About Author

Comments

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics